Why does China cause global Bitcoin price soaring?

ByZach Copley

It is attracting attention as an online payment toolBitcoin (bit coin)The transaction price of November 5, 2013On November 5, 2013, we recorded a record of 267.40 dollars (about 26,300 yen), which is higher than the previous oneAfter that, it has continued to rise further and it has expanded to around 500 dollars (about 50,000 yen) after reaching the highest historical value of about 900 dollars (about 90,000 yen). The background of this trend seems to be that the popularity of Bitcoin in China has risen sharply, it is actually the leading Bitcoin exchange in ChinaBTC ChinaIs JapaneseMt. GoxAnd SloveniaBitStampIt became the world's largest in terms of trading volume of the day, becoming the world's largest platform. So, why Bitcoin's popularity rose in China and it is causing the soaring price of world-wide bit coins, Shanghai's financial consulting companyKapronasiaThe president of the company analyzes it.

Why China is Leading the Global Rise of Bitcoin
http://www.coindesk.com/china-leading-global-rise-bitcoin/

China, and the soaring price of Bitcoin
http://marginalrevolution.com/marginalrevolution/2013/11/china-and-the-soaring-price-of-bitcoin.html

Bitcoin Singapore 2013According to Mr. Zennon Kapron, president of Kapronasia who has made a presentation on Bitcoin at Bitcoin, BTC China, unlike other Bitcoin exchanges, is free of charge for those who use Bitcoin for the first time, It is one of the reasons why the popularity of popularity rose explosively.


China's capital regulation is very strict, it seems very difficult to invest overseas. As a result, we are experiencing the phenomenon that wealthy people who are not satisfied with investment in real estate investment in China or invest in real estate invest overseas using Bitcoin which can be started free of fee.

The Chinese media are all reporting about Bitcoin, but in reality, only a few shops in Beijing, the capital of China, are only accepting payments with Bitcoin. Kapron says, "Only a few people actually use Bitcoin in China, although the presence of Bitcoin is known, there are few people who know about that mechanism." , Bitcoin's popularity comes out only among the wealthy people.

ByEpSos .de

However, according to Bloomberg, Bitcoin and the original transaction volume areIncrease 30 times in the last 2 monthsIt is said that it is. Because there are many bit coin users of HNWI who are planning overseas investment, the current value of Bitcoin fluctuates in the same way as the export license is determined by bidding, but China will liberalize the inflow of capital The price of Bitcoin may fall at a stretch.

Kapron said "Shanda, a real estate agent in China, pays for luxury condominiumsBitcoin also accepts to acceptWhat I did is one of the reasons for Bitcoin's popularity. " Shanda 's announcement seems to be for promotional purposes at first glance, but Shanda' s customers have a lot of IT - related technicians who earn a high salary at a young age and are effective promotions.

ByGmundo

According to Kapron, it is very difficult to express clearly how much bit coin mining activity in China recently is.Bitfountain selling USB dedicated to bit coin miningIs also popular all over the world, and it seems that Bitcoin popularity in China is also boosted by the appearance of a service called "Hosted Mining" that lends equipment and places for bit coin mining.

The popularity of Bitcoin in China continues to rise, but if attention is gathered so far, problems such as the usefulness of software and security, society's recognition for Bitcoin, and government intervention occur like the other countries It is also possible and it is unknown whether we can maintain the current popularity in the future. In addition, the Chinese governmentQQCalledI stopped electronic moneyIf there is past, if BTC China is also forced to close down by the Chinese government, it is predicted that Bitcoin's global trading volume will decline to a third of the current level, so we will continue to make a preliminary forecast until the current turbulence settles down It is a situation not allowed.